The United Kingdom government has given the final investment decision for the Sizewell C nuclear power plant. UK’s Energy Secretary Ed Miliband signed off the multi-billion dollar deal for the nuclear power plant that aims to deliver clean energy to approximately six million homes for decades.

The cost of building the Sizewell C nuclear power plant in Suffolk has jumped to £38bn, adding £1 a month to household energy bills for at least a decade. The previous official figure for the project was £20bn, but the plant's joint managing director Julia Pyke said earlier estimates did not account for inflation or risk.

Britain has secured investment for the Sizewell C nuclear plant from Canadian pension fund La Caisse, Centrica and Amber Infrastructure, enabling the government to give the final go-ahead on Tuesday for the 38 billion pound ($51 billion) project.